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Bill > S3735
NJ S3735
NJ S3735Extends foreclosure protections for certain homeowners impacted by remnants of Hurricane Ida.
summary
Introduced
03/05/2026
03/05/2026
In Committee
03/05/2026
03/05/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill extends foreclosure protections for certain homeowners impacted by remnants of Hurricane Ida. Under current law, storm-impacted homeowners issued a Certification of Eligibility for Forbearance entitle the applicant to receive a one-year mortgage forbearance from their mortgage servicer. Further, a storm-impacted homeowner who is the subject of a foreclosure proceeding is awarded, by the court and upon application by the property owner for good cause shown, a stay in the foreclosure proceedings. This bill would extend the one-year forbearance to a two-year forbearance and provides that the award of a stay would conclude upon the earlier of: the conclusion of two years, rather than one year, following the initial award of a stay of foreclosure proceedings; or January 1, 2027, rather than January 1, 2026. The bill would take effect immediately and be retroactive to January 1, 2026.
AI Summary
This bill extends foreclosure protections for certain homeowners impacted by Hurricane Ida remnants, specifically by doubling the mortgage forbearance period from one year to two years for those who receive a Certification of Eligibility for Forbearance, which is a document confirming their eligibility for such relief. Additionally, it extends the duration of a court-ordered stay, which pauses foreclosure proceedings, to two years from the initial award or until January 1, 2027, whichever comes first, instead of the previous one-year limit or January 1, 2026. These changes are retroactive to January 1, 2026, and take effect immediately.
Committee Categories
Housing and Urban Affairs
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 03/05/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/S3735 |
| BillText | https://pub.njleg.gov/Bills/2026/S4000/3735_I1.HTM |
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